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Iran is looking to attract upwards of $150bn to its lucrative oil and gas sector over the next five years following the expected removal of sanctions on its key energy and banking sectors over the coming months, says Mehdi Hosseini, head of the committee charged with restructuring Iran’s upstream investment contracts.
Starved for more than a decade of the expertise, investment and technology it so badly needed to maintain and fully develop its vast hydrocarbon resources while under sanctions, Iran is now looking to break the shackles, and realize its full potential in the global oil and gas arena.
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